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The Companies Majorly Adopted New Product Launches and Mergers & Acquisitions as Their Major Growth Strategies in Polyurethane Adhesives Market

New product launches were the key strategy adopted by industry players to achieve market growth in the global polyurethane (PU) adhesives market. This strategy accounted for the largest share of all the development strategies adopted by the market players to expand their global presence and increase their market share between 2012 and 2016. The current demand from the applications such as building & construction, packaging, automotive & transportation, footwear, electrical & electronics, furniture & woodwork, and others is driving the PU adhesives market. The developments in these applications have encouraged companies to adopt various growth strategies in the PU adhesives market. Some of the leading PU adhesives manufacturers are 3M (U.S.), Arkema S.A. (France), Ashland Inc. (U.S.), H.B. Fuller (U.S.), Henkel AG & Co. (Germany), Huntsman Corporation (U.S.), Scott Bader Company Ltd. (U.K.), Sika AG (Switzerland), and The Dow Chemical Company (U.S.). These companies have adopted various organic and inorganic growth strategies to improve their business and maintain their market share, globally.

Companies adopted strategies such as investments & expansions, new product launches, mergers & acquisitions, and partnerships, contracts & agreements to increase their market share and expand their distribution network, globally. These strategies accounted for a significant share of the total number of growth strategies adopted by players in the global PU adhesives market between 2012 and 2016.

The companies majorly adopted new product launches and mergers & acquisitions as their major growth strategies. In May 2016, H.B. Fuller launched Swiftlock 8500, a reactive hot-melt, high-performance bookbinding PU adhesive. This adhesive is designed for use in soft and hard cover books that are subject to intense wear and tear. Similarly, in June 2016, the polyurethanes division of Huntsman launched VITROX ABR adhesives – a specialty, two-component adhesives made from PU-based resins.

In April 2016, H.B. Fuller acquired Advanced Adhesives (India), a provider of industrial adhesives in Australia and New Zealand. This business will enable H.B. Fuller to strengthen its industrial adhesives market position in Asia-Pacific. Apart from this, in June 2016, the company has signed an agreement to acquire Cyberbond, LLC (U.S.), a global provider of industrial adhesives for the electronics, medical, audio equipment, automotive, and structural markets. This acquisition will strengthen the company's position in high-margin, high-growth engineering adhesives market.